Technical analysis

Discussion in 'Forex Signals' started by FreshForex_company, Dec 31, 2018.

  1. [URL deleted]
    Technical observation

    GBP is rallying around a key level 1.2696 and I expect bearish momentum towards the support 1.2113 followed by a breakout below it for a further decline in price. You can sell this pair at 1.2696 after a close at it with your take profit at 1.2113 and stop loss at 1.2929. In case of a penetration below 1.2113, wait for a correction to it confirming further bearish price rally before you continue short. Long positions may only be recommended should there be a clear breakout above 1.2696 with a big green candle followed by a correction to it more than once. Right now only short positions look ideal and can be recommended on the daily chart above.

    Trade recommendation

    Sell GBP at 1.2696 with your take profit at 1.2113 and stop loss at 1.2929.
     
    Last edited by a moderator: Dec 31, 2018
  2. [​IMG]

    Technical observation

    Just like EUR, this pair was rejected within a resistance zone 1.2752-1.2696 after failing to break above it, it then went down yesterday and is still declining towards a support 1.2113, my expectation is a rally to the support followed by either a rejection at it for a correction to 1.2752-1.2696, or a clear breakout below it with a big red candle and a correction to it for a further decline in price towards 1.1526, In case you sold this pair yesterday within 1.2752-1.2696, remain short with your take profit at 1.2113 and stop loss at 1.2928.As long as this pair is contained below 1.2752-1.2696, only short positions can be recommended for GBP.

    Trade recommendation
    Remain short towards 1.2113.
     
  3. Technical observation
    EUR did not decline to 1.1214 as I predicted yesterday but instead it rose and is still rising towards the resistance zone 1.1472-1.1452, my expectation is a rejection of it within the zone followed by possible bearish price rally towards 1.1214, or a clear penetration above the zone with a big green candle and a retracement to it for possible bullish momentum of price towards 1.1819.If you are not in a trade yet, remain neutral and wait for a close within 1.1472-1.1452 to sell this pair with your take profit at 1.1214 and stop loss at 1.1582.Long positions may only be recommended above 1.1472-1.1452 after a confirmation of possible upwards movement.

    Trade recommendation
    Remain neutral
     

    Attached Files:

    • EUR.png
      EUR.png
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  4. [​IMG]

    Technical observation
    USD has been declining steadily towards the support level 107.82, right now price is rallying around it and my expectation is either a clear penetration below it with a big red candle, or a bounce at it followed by a correction to the zone 114.78-114.06, In case you sold this pair within 114.78-114.06 you can pick your profits now at 107.82. If you had not sold this pair yet, you can wait for either a breakout below 107.82 followed by a correction to it to sell USD with your take profit at 100.03 and stop loss at 110.32, or a correction to 114.78-114.06 and a bounce within it to re-sell USD with your take profit still at 107.82 and stop loss at 117.50.

    Trade recommendation
    Remain flat.
     
  5. Technical observation
    EUR established a key resistance zone at 1.1509-1.1476, for several days now, this pair has been retracing to the mentioned zone but has not been able to penetrate above it, and as long as it is contained below this zone only short positions may be recommended. From 3rd of this month price has been rising towards 1.1509-1.1476 and yesterday it was rejected at it, now EUR is rallying on a bearish momentum towards the support 1.1216 and my expectation is a decline to it and a possible breakout below it. If you had not sold this within 1.1509-1.1476, you can still sell it now with your take profit at 1.1216 and stop loss at 1.1623.

    Trade recommendation
    Sell EUR with your take profit at 1.1216 and stop loss at 1.1623.
     

    Attached Files:

    • EUR.png
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  6. Technical observation
    Yesterday, EUR went down but not for long, though I still expect more bearish momentum towards the support level marked at 1.1214, price can still penetrate above the resistance zone 1.1504-1.1475 and in that case you should wait for a correction to the just broken zone then long this pair on the second retracement to it just to ensure the breakout was not false. In case you sold this pair yesterday within the above mentioned zone my advice is you remain in the trade with your take profit still at 1.1214 and stop loss at 1.1621, if you had not traded EUR yet, wait for a close within the zone 1.1504-1.1475 to sell this commodity.
    Trade recommendation
    Remain short with your take profit still at 1.1214 and stop loss at 1.1621.
     

    Attached Files:

    • EUR.png
      EUR.png
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  7. Technical observation
    Yesterday, a breakout was seen when price went up above a resistance zone 1.1509-1.1476, this pair is still rising and my expectation is a correction to the just broken zone followed by a bounce within for possible bullish price rally towards 1.1840 and a breakout above it for a further rise in price towards 1.2164.Remain flat and wait for the correction to the above mentioned zone and a rejection within it to buy EUR on the second retracement to it just tom ensure the breakout above 1.1509-1.1476 was not false. Continue long after a breakout above 1.1840 followed by a correction to it confirming further bullish momentum of Euro.
    Trade recommendation
    Remain flat.
     

    Attached Files:

    • EUR.png
      EUR.png
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